Home |Life Insurance | I'm still a student and my age is 23. I want to buy a term insurance now so that my premium remains low. So can I still buy a 2 Cr sum insured term insurance without actually securing a job?

I'm still a student and my age is 23. I want to buy a term insurance now so that my premium remains low. So can I still buy a 2 Cr sum insured term insurance without actually securing a job?

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Shailesh Kumar, Co-founder, Insurance Samadhan verified
Answered on January 01,2022

Dear 

No , you are not eligible for Term Insurance of more than Rs 10 lakh.

For higher sum assured , you need a regular earning and ITR.

For a sum assured of Rs 2 crore , you need an income statement of approx Rs 10 lakh per annum.

But , my compliment to you for right thinking.

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